Research – Most of Crypto Assets Are Highly Centralized

Nexo Lending Platform Adds Bitcoin Cash Support

The beauty of Bitcoin and other cryptocurrencies lies in its decentralized nature, ensuring there is no single point of failure. However new research has found that the majority of the digital asset existing in cryptospehere are highly centralized. Cryptocompare, the cryptocurrency market data aggregator analyzed over 200 crypto assets and had published a Cryptoasset Taxonomy Report.

The report highlights that just 16% of crypto assets are genuinely decentralized, around 55% as centralized and the rest as semi-decentralized.

Kraken Lists new cryptos ADA and QTUM, Margin Trading, in future

Kraken launch ADA and QTUM, Margin Trading in future

Popular bitcoin and cryptocurrency exchange Kraken, announced today the listing of two new cryptocurrencies, with ADA and QTUM. Trading and funding in the two assets will launch simultaneously.

While Cardano claims to have the world’s first provably secure proof-of-stake consensus mechanism. Quantum runs an “intercompatible” version of EVM (called the “X86 Virtual Machine”) that allows smart contracts to be written in multiple languages.

Users will be able to trade ADA and QTUM on both Kraken.com and its more advanced platform at trade.kraken.com. Margin trading will not be available at launch for ADA or QTUM but may be enabled in the future.

Crypto Exchange’s – issues of “transparency, fairness, and security” in crypto trading.

A months-long investigation by the New York Attorney General’s office found that cryptocurrency exchanges are vulnerable to market manipulation and fall short on consumer protection.a 32-page report published Tuesday, the attorney general’s office highlighted issues of “transparency, fairness, and security” in crypto trading. The “Virtual Markets Integrity Report” said that in many cases, exchanges are not doing much to stop unfair market practices. according to the report by Attorney General Barbara Underwood’s office ” The industry has yet to implement serious market surveillance capacities, akin to those of traditional trading venues, to detect and punish suspicious trading activity,”

Local Indian Government Sites under attack of Cryptojacking

While India is in a dilemma to restrict or allow cryptocurrencies, the country’s government website is helping miners by mining cryptos unknowingly. As per the latest security report – Government websites like the director of municipal administration of Andhra Pradesh, Macherla municipality and Tirupati Municipal Corporation are among hundreds of Indian sites being used to mine cryptocurrencies.

A malware known as cryptojacking – where an unauthorized user could use your computer power to mine cryptos. Hackers get users to click on a malicious link in an email that loads crypto mining code on the computer or infects a website with JavaScript code that mines cryptocurrencies using up a visitor’s computing power without consent. While earlier malware attacks were equipped with blocking the data and asking for ransom, cryptojacking has been spreading successfully because of its nature of not being detected.

Top Five Cryptocurrencies as per Market Cap

Bitcoin, Litecoin, Zcash, Cardano, Ether, Dogecoin, Tether, Titcoin, Potcoin, Auroracoin, Primecoin, Swiftcoin just to name a few of exploding cryptocurrency market. As per investing currency list, there are 2260 cryptocurrencies listed on the market as of 14-Sept. As of 15, March 2018 there were 1658 cryptocurrencies, a whooping upward growth. While launching a crypto may not be much of significance, but getting a position in the market is indeed a tough job.

As of March, the cryptocurrency market capitalization was under $369 billion, that indicates that each of the cryptocurrency in March was worth of ~$222 million. However, that’s not the fact – the top 20 leading cryptos account for 89% of the total market — the other 1,638 cryptocurrencies are worth a combined $39.6 billion.

In fact, if you try listing cryptos with the largest market capitalization, here are the top five cryptos as of writing this article –

As experts recommend while placing your bet choose the one with the market capitilization[total coins that will ever be produced times current value], the coins potential to survive in the market and the ease with which a coin can be traded for fiat currency like the US dollars.

While market cap, its potential to survive and ease to convert are some of the best bets, Traders owning cryptos other than Litecoin, Bitcoin, Ethereum; Bitcoin Cash also find it hard to trade them for actual fiat. Most of the coins could be traded at online cryptocurrency exchange, and individuals could also buy stuff online, but converting it into a fiat means –

First converting it into a significant cryptocurrency [like BTC or ETH]
Then get USD against it.

So even though a USD value is listed against each of the cryptocurrency, that does not signify you can liquidate it as per your wish.

September 14, 2018